Recently, the LHCb collaboration put the upper limit on the [Formula: see text] decay branching ratio [Formula: see text]. The measured value is below the light-cone sum rule prediction. In this paper, the rare radiative decay of the [Formula: see text] baryon is studied in the framework of the relativistic quark model based on the quasipotential approach and QCD. The decay form factors are calculated with the comprehensive account of the relativistic effects. The obtained result for the branching ratio is found to be below the upper limit set by LHCb and is consistent with theoretical predictions based on the SU(3) flavor-symmetry, light-front quark model and light-cone QCD sum rules in full theory within theoretical uncertainties.